Does Clark Howard still think that it’s a bad time to buy a new car or even a used car? Admittedly, I can’t say that the inflation situation in the United States is under control at the present time.
I’ve been waiting close to two years to pull the trigger on a new car. Just because of their age and mileage on my current ones. Started the process by selling one of my trucks a couple of weeks ago. Probably will make a move in the next 30-45 days.
Are Dealers still asking more than MSRP?
Unless I had an URGENT need… that would be my Barometer.
Does sending out Emails to multiple Dealers still work?
That is how I bought my last 2 cars… but they were both pre-covid.
“Have Cash Will Travel,” was my strategy until my last new car purchase. In 2017 that strategy got me $10K off the MSRP from a dealer 500 miles from my home.
In 2022 I just got tired of waiting and the BEV market was weighted too much toward the seller side to try the same strategy. I got the car for the MSRP from a local dealer who called me a week after I notified them that I was interested in a specific model & color, (wife’s preference.)
No. No matter what you do, they will still try to entice you to "come into the showroom.
My best friend just bought a new Toyota Camry Hybrid. Years ago he worked in new car sales. He is financially literature and understands opportunity costs, etc. The present situation on new Camry’s in our region is that customers are buying them sight unseen before they arrive at the dealership. There is very little wiggle room on price. We looked at Camry’s about 18 months ago and it was exactly the same situation. We had done a test drive on one car they had in the lot to check for fit (I am very tall). It was an obnoxious color. As we concluded the test drive there were 2 people waiting for the opportunity to buy it if we did not. As soon as we said “No”, the car was sold. He said it was exactly that situation right now, at least for The Camry.
Last year we bought a great used car that we just happened to see parked for sale near our home. We really like the car. That particular car has doubled in value since we bought it.
The best time to buy a car is always when the one you are currently driving is worn out.
The best time to buy a new car is when a used car that meets your needs is not available.
The only good time to buy a new car is when you have too much money and want to get rid of some of it.
I think that’s a pretty fair way to look at it. If your current car is reliable and meets your needs, there’s usually no reason to rush into buying another one just because prices or interest rates change. I’d rather wait for the right car and a reasonable deal than compromise just to buy something now.
That’s funny…and for those who don’t know sarcasm, just substitute the word “worst” where you see “best” or “good”.